A Market Structure with Only a Few Sellers, Each Offering

question 24

Multiple Choice

A market structure with only a few sellers, each offering similar or identical products, is known as

• A)oligopoly.
• B)monopoly.
• C)monopolistic competition.
• D)perfect competition.

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Definitions:

Disinflation

A slowdown in the rate of inflation, indicating a deceleration in the pace at which prices for goods and services rise.

CPI

The Consumer Price Index is an index that calculates the weighted average price of a basket of consumer goods and services, serving as a gauge for inflation.

Cyclical Rate

Refers to the component of the unemployment rate that is attributable to economic recessions and expansions.

Unemployment Rate

The extent of unemployment within the labor force among those actively looking for jobs.